We hear many stories of people backing out and not paying on Sedo. Sedo will give the seller the information of the buyer and leave it up to them to go after payment.
There is a very interesting thread on Namepros about one such sale. Not only is the sellers post interesting with the back and forth between him and the buyer, but the wide range of comments after.
Some who believe go after him at all cost, to others that accept the non paying bidders as part of the game.
The intitial post is below:
I am SICK and TIRED of these Sedo deadbeat buyers thinking they can
get away with their foolishness with impunity. Here is my latest Sedo
deadbeat buyer story:
Carolina Discount Furniture
Read the series of communication between this deadbeat and I and let me know what you think. Feel free to add this "buyer's" information to your blogs/threads.
Here is the first email I sent after getting the buyer's contact information from Sedo aver waiting several weeks for payment that was never made:
Dear Mr. Keck:
My name is xxxx, and I am the owner of xxxx. Sedo forwarded your contact information to me because you agreed in a legally binding contract to buy xxxx.com through Sedo, and you failed to pay for the domain name. While Sedo referred you to me for potential legal action for breach of contract, it is my hope that we can come to a resolution where both parties can be happy--you get the domain name, and I will receive payment as promised.
While looking at your website, it is evident that you could benefit from my domain name. The hyphen in your current domain is really dragging down your site's value, not to mention the lost traffic from people who forget to type that hyphen into their browsers. I am confident that you will recoup the cost of my domain name easily just from the new traffic you will receive. And you don't have to build another site. Just forward this domain to your existing site to capture that traffic.
So I am convinced that you NEED this domain, and not purchasing it would be a mistake. I will work with you, as long as you pay as agreed. I can also lease the domain to you (you make monthly installment payments) if price is an issue.
I need to hear from you ASAP so we can settle this matter. Thank you for your time and attention.
Danny Keck's response:
I think money must be the issue on your end. I have never had anyone pursue $497.00 like it was the lotto prize before. I have many customers who are used to finding me with the hyphen. I simply changed my mind on this matter. There is nothing legally binding here so I would appreciate it if you and Sedo would quit harassing me.
My response to this, with comments:
Dear Mr. Keck:
My position on this matter is clear. The amount of money involved is not the issue. There is a principle here, and it is unfortunate that you as a business owner do not understand this. You made a commitment to buy the domain through the Sedo marketplace. Sedo lets buyers know that any offer made on their platform is legally binding, and you should not click "buy it now" if you are not in agreement with that. There is no "I changed my mind." That is not acceptable.
You can either pay what is owed willingly, or you will be forced to pay legally. That is up to you. I will give you 24 hours from the timestamp on this email to contact me to make payment arrangements and to submit payment to me. If payment is not made within the time period specified, the next communication you will receive will be a Summons for you to appear in small claims court concerning this matter.
Please keep in mind that amount I will be seeking from the Court will be far more than $497, and will include court costs, my travel expenses to your county in NC, and other remedies allowed by law. I also reserve the right to post your name, website, and contact information identifying you/Carolina Discount Furniture as a deadbeat Sedo buyer online until payment is made. My comments regarding the email you sent me are in bold, below.
I think money must be the issue on your end. (Why wouldn't money be an issue on my end? I am in business to make money, just as you are). I have never had anyone pursue $497.00 like it was the lotto prize before. (The amount really doesn't matter. The issue is that you made a commitment to buy through Sedo and reneged on that commitment. The same thing would happen if the purchase price was $60. I have had collection agencies come after me for $25 medical bills!) I have many customers who are used to finding me with the hyphen. (This may be true, but you, not I, went on Sedo to buy xxxx.com.) I simply changed my mind on this matter. (So commitment means nothing to you? I wonder if you are so generous as you expect me to be if a buyer makes a commitment via contract to pay for furniture and then decides to change his or her mind and not pay what is owed). There is nothing legally binding here (I would suggest reading your contract again) so I would appreciate it if you and Sedo would quit harassing me.(You are responsible for paying Sedo's commission, so they may continue to contact you or take whatever action they deem necessary to collect...I have no control over this.)
Final response from Mr. Keck:
Do what you gotta do.
The Seller: These deadbeats think they can get away with this because of the cost and inconvenience involved with pursuing them through the legal system.
Now one commenter left a message that a Google search for Carolina-DiscountFurniture.com has this Namepros post on the first page.
Feel free to leave a comment here on your thoughts about non paying bidders.